A private enterprise in Can Tho City is set to reward an employee with a VND384 million (US$16,900) Tet (Lunar New Year) bonus. — Photo cantho.gov.vn
A private enterprise in Can Tho City is set to reward an employee with a VND384 million (US$16,900) Tet (Lunar New Year) bonus.
Chau Hong Thai, deputy director of the city’s Labour, Invalids and Social Affairs Department, said it was the highest bonus rewarded to an individual employee ever recorded in the city.
The highest such bonus was VND186 million ($8,200) last year, he said
Employees of the Foreign Direct Investment and Joint Stock Company will receive the highest bonus of VND5 million ($660) on average.
Last week, in Dong Nai Province, many enterprises with a large number of workers, like Pouchen Vietnam and Teakwang Vina announced a minimum bonus of one month’s pay and a maximum of 2.2 times the monthly wages, depending on work experience.
Pham Minh Huan, former deputy minister of Labour, Invalids and Social Affair, felt that this year’s Tet bonuses are likely to match that of last year at one month’s pay (around VND5 million or $220) as economic conditions have not improved much.
Nguyen Tat Nam of HCM City’s Department of Labour, Invalids and Social Affairs said they didn’t have enough data this year to assess whether this year’s average bonus would be higher or lower than that of the previous year.
Of 14 non-State enterprises in Hoc Mon District that have sent in their bonus reports to the department, the highest bonus is VND11 million ($480) per worker and the lowest is VND4 million ($176).
According to a survey by the MacConsult Business Management and Consultancy Company, the real estate sector has given the highest bonus of VND65 million ($2,900), followed by pharmacy and finance with VND55 million ($2,400) and VND25 million (1,100) for staff working as managers or supervisors.
Vu Duc Giang, Chairman of Viet Nam Garment and Textile Association, said that the average income of garment workers had increased significantly this year.
Although 2016 was a difficult year for the textile industry, enterprises had maintained their growth rate and increased labour productivity. Thus, the granting of Tet bonuses in kind (instead of cash) with products like garments would not recur this year, he said. — VNS